Federal Government uses UPLAN model to examine price volatility in ERCOT

LCG, October 11, 2022--The U.S. Energy Information Administration, or EIA, released its latest supplement to the Short-Term Energy Outlook (STEO) in the Texas market, assessing various possible scenarios using LCG’s UPLAN NPM model, with a special focus on the effects on wholesale power prices and market conditions.

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Michigan Governor Supports Reopening Palisades Nuclear Facility

LCG, September 16, 2022--The Governor of Michigan last week sent a letter to the U.S. Department of Energy (DOE) in support of Holtec International’s application for a federal grant under the Civil Nuclear Credit (CNC) program to save the Palisades Nuclear Facility in Southwest Michigan. The federal grant could result in restarting the baseload, carbon-free, nuclear power plant.

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Industry News

Virginia Sets Retail Electric Choice Schedule

LCG, April 3,2001In an order issued yesterday, the Virginia State Corporation Commission indicated it would be at least technically possible for three quarters of the state's electricity consumers to buy power from competitive suppliers as early as Jan. 1, 2003.

Under Virginia's 1998 electric utility restructuring and deregulation law the phasing in of competition among power suppliers was to begin on Jan. 1, 2002 with all Virginians having a choice of suppliers by Jan. 1, 2004. The commission has now decided a shorter phase-in schedule would attract competitive suppliers and benefit the most people.

But for consumers to buy power from competitive suppliers, those electricity marketers will have to be there. The commission noted that energy marketers could be in no hurry to serve some customers, particularly those living in rural areas.

American Electric Power Co., Delmarva Power & Light Co. and Allegheny Power Co., which serve about 570,000 Virginia customers among them, say they will be ready to offer customer choice to all of their customers by next January 1, but they have had the benefit of going through the growing pains in other states in which they operate.

The state's largest electric utility, Virginia Electric & Power Co., which serves some 2 million customers, says it will take it two years to get ready. However, Tom Kazas, a spokesman for Dominion Resources Inc., Virginia power's parent holding company, said his company will not challenge the commission order.

"We're committed to implementing choice for all our customers as soon as its technicallypossible to do so," Kazas said.

Virginia Power customers will be phased into the program in three phases. Next January 1, householders in Northern Virginia and a third of the state's industrial customers will get choice. Central and western Virginia residential customers and a second third of industrial users will be allowed to choose suppliers by September 1 of next year, and residents of the Hampton Roads area and the final third of industrial customers will have choice by Jan. 1, 2003.

All four utilities will make quarterly reports to the commission on how the customer choice program is going, beginning this coming May 15.

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